Titan Company gains on commissioning Stainless Steel Case Plant at Coimbatore

Titan Company gains on commissioning Stainless Steel Case Plant at Coimbatore

Sep 12,2014   09:26 Hrs IST

Titan Company is currently trading at Rs. 387.50, up by 5.45 points or 1.43% from its previous closing of Rs. 382.05 on the BSE. The scrip opened at Rs. 382.10 and has touched a high and low of Rs. 387.60 and Rs. 382.10 respectively. So far 4,972 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 397.80 on 09-Sep-2014 and a 52 week low of Rs. 203.00 on 30-Jan-2014. Last one week high and low of the scrip stood at Rs. 397.80 and Rs. 376.00 respectively. The current market cap of the company is Rs. 34,401.00 crore. The promoters holding in the company stood at 53.05% while Institutions and Non-Institutions held 24.35% and 22.59% respectively. Titan Company’s Watch Division has commissioned brand new Stainless Steel Case manufacturing facility which is located at Cochin Frontier Road, Coimbatore in state of Tamil Nadu. This plant has been set up with technical assistance from SEIKO EPSON, Japan to manufacture high-end Stainless Steel Cases meeting global standards of quality with an investment in excess of Rs 75 crore. The initial capacity of the facility is 1 million cases / annum scalable to 2 million / annum and an employment potential of 250 people. Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.